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BorgWarner Inc, a US-based $4 billion auto component and systems manufacturing company, inaugurated its new plant at Sriperumbudur, near here, set up with an investment of Rs 30 crore.

Spread over 6.3 acres at the Sipcot Industrial Park, the plant will have a capacity of 300,000 assemblies a year now and manufacture Viscous fan drives, fans and other thermal management products.

“With the Indian market currently at about Rs 100 crore and set to grow 10-12 per cent for these products, it became clear that BorgWarner had to set up a full-fledged plant in India to cater to the domestic customers,” said Tim Manganello, chairman and chief executive officer, BorgWarner Inc.

“The plant has sufficient room for expansion,” he said.

BorgWarner Cooling Systems India (P) Ltd, a wholly-owned subsidiary of BorgWarner Inc, started its India operations in 2001 as a sales office that imported products, which helped in thermal management of engines used in SUVs and heavy vehicles. Subsequently, in 2004 the company set up an interim manufacturing facility at Ayanambakkam, Chennai.

The company clocked a turnover of Rs 49 crore in the last financial year and expects Rs 65 crore this year.